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DUBAI / WAM Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications, stated that the UAE leadership believes in fostering collaboration between federal government entities and local government entities, as well as building stronger ties with the private sector, aiming to enhance collective national endeavors towards the development and implementation of cutting-edge digital ...
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March, 2023
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30 March
Emirates, United activate codeshare partnership
DUBAI / WAM Emirates and United have activated their codeshare partnership, allowing Emirates customers to enjoy easier access to an expanded choice of US destinations. Emirates customers will be able to fly to three of the nation’s biggest business hubs — Chicago, Houston or San Francisco — and connect easily to an expansive network of domestic US points on flights ...
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30 March
UAE President receives Turkish leader’s wishes on new leadership appointments
ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan on Thursday received a phone call from President Recep Tayyip ErdoÄŸan of the Republic of Turkiye, during which he congratulated His Highness on the new leadership appointments he issued in the UAE and the Emirate of Abu Dhabi. President ErdoÄŸan prayed to the Almighty Allah that ...
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30 March
King Charles condemns Russia in speech to German lawmakers
BLOOMBERG King Charles III waded into European politics, praising Germany’s decision to reverse decades of defense policy by supplying Ukraine with arms. “Germany’s decision to send such significant military support to Ukraine is remarkably courageous, important and appreciated,†Charles said in a speech to the lower house of parliament in Berlin. Speaking to Bundestag lawmakers in German during his first ...
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30 March
JPMorgan, Goldman to start trading private credit loans
BLOOMBERGÂ Wall Street banks are looking to start trading private credit loans as they seek to make inroads into the lucrative world of direct lending, a potential first step that could ultimately reshape the largely buy-and-hold market. JPMorgan Chase & Co, Goldman Sachs Group Inc and Barclays Plc are among the firms talking to private debt funds about facilitating secondary-market ...
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30 March
PBOC’s Yi says funding for green loans at $44b
BLOOMBERG The People’s Bank of China’s (PBOC) relending programs have incentivised banks to allocate more loans towards green projects, Governor Yi Gang said. The relending programs provide cheaper funding to banks and at the same time promotes information disclosure by lenders, Yi said on a panel at the Boao forum in Hainan. One of the PBOC’s relending programs — focussed ...
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30 March
Global investors’ appetite for risk is falling sharply, says BOE
BLOOMBERG The Bank of England (BOE) warned the next blow up in financial markets may be triggered by corporate credit after a massive build-up in private debt over the past decade. Riskier corporate borrowing — including high yield bonds, leveraged loans and private credit — is “particularly vulnerable†to interest rate rises and “heightened geopolitical risks increase the likelihood of ...
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30 March
Japanese banks have little risk of AT1 bonds wipeout, says Suzuki
BLOOMBERG Japanese banks have little risk of facing a situation like Credit Suisse Group AG’s recent Additional Tier 1 (AT1) bonds wipeout, Japan’s finance minister reassured onlookers who may be concerned about their holdings. Finance Minister Shunichi Suzuki said in parliament that Japanese banks’ AT1s do not have a clause which recently triggered $17 billion worth of junior debt being ...
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30 March
Credit Suisse seeks to soothe Swiss clients on UBS worries
BLOOMBERG Credit Suisse Group AG’s top executives in Switzerland sought to reassure local clients over worries stemming from the takeover by UBS Group AG, and underlined the importance that the domestic business has for the new combined bank. The Swiss bank held a 45-minute webcast, hosted by Andre Helfenstein, chief executive of the Swiss business, and Roger Suter, head of ...
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30 March
Macy’s CEO to retire in 2024, succeeded by Tony Spring
BLOOMBERG Macy’s Inc Chief Executive Officer (CEO) Jeff Gennette will retire in February after nearly seven years of navigating a difficult department-store landscape, ceding the position to Bloomingdale’s CEO Tony Spring. Spring, 58, who has been CEO at the high-end Bloomingdale’s chain since 2014 and joined the company in 1987, will serve as president of Macy’s until the 61-year-old Gennette’s ...
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